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Chariot ready to go in deep in two offshore blocks

Chariot ready to go in deep in two offshore blocks

Oil and gas exploration firm, Netherland Sewell and Associates, has identified five potential drill sites in two offshore blocks off the coast of Namibia saying Block 2312 and 2412A, respectively show potential geological success of up to 29%.

The exploration work done on behalf of the UK explorer, Chariot Oil & Gas, is dependent on Netherland Sewell and Associates’ independent audit of 6,100 km2 of 3D seismic data. In each of these prospects, two or more drilling targets have been identified.

Netherland Sewell and Associates estimate gross mean prospective resources for each prospect ranging 283 to 459 mmbbls (million barrels). The company said that it is undertaking a contract strategy to identify an appropriate drilling unit, secure long-lead items such as wellheads and tubulars, arrange for all auxiliary services and establish a logistic base for well services, supplies, helicopters and medivac.

Chariot Oil & Gas said that the current drilling focus area was identified in the north-western area of the Central Blocks from approximately 1,700 km of proprietory 2D seismic data acquired in 2015 via a partnership.

In the drilling consortium, Chariot hold a 65% interest with the rest in the hand of partners, AziNam with 20%, Namcor with 10% and Ignitus Oil & Gas, the local partner, with 5%.

The initial scope of work will be managed through Chariot’s in-house team supported by the Country Manager and Senior Staff Drilling Engineer, Robert Mwanachilenga, who was responsible for in-country support for the Tapir South-1 deep water well operated by Chariot in 2012.

The target, Mwanachilenga said, is to undertake this drilling in the second semester of 2018 as the process continues to put together an in-house team between the partners. Chariot CEO, Larry Bottomley commented that the focus for Chariot is the delivery of transformational value through the discovery of material hydrocarbon accumulations.

“These new findings based on prior geological data of dip-closed prospects target the same good quality Upper Cretaceous deepwater turbidite reservoirs as penetrated in the Murombe-1 well and are modelled to have received hydrocarbon charge from the proven, excellent quality Aptian marine source rocks identified in both the Wingat-1 and Murombe-1 wells” stated Chariot.

“The maturation of the portfolio in the Central Blocks in Namibia has uncovered a series of robust, low-risk structural traps that are targeting the proven play elements demonstrated in nearby wells” Bottomley said.

Together with its partners, Chariot completed the acquisition of a 3D seismic survey of approximately 2,600 km2 in February 2016. “The 2016 3D survey has been processed in conjunction with 3,500 km2 of legacy 3D seismic data with both depth migration and inversion products calibrated using the nearby Wingat-1 and Murombe-1 wells,” Bottomley said.

About The Author

Freeman Ngulu

Freeman Ngulu is an Entrepreneur, into data journalism and is an aspiring content marketer. He tweets @hobameteorite.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.